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Brownstone Ventures Inc.: Brownstone Grants Options and Provides Update on Private Placement

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^{Published in Business and Finance on Thursday, August 13th 2009 at 12:06 GMT, Last Modified on 2009-08-13 12:06:38 by Market Wire}  

TORONTO, ONTARIO--(Marketwire - Aug. 13, 2009) - Brownstone Ventures Inc. (TSX VENTURE:BWN) ("Brownstone") wishes to announce that it has granted 1,400,000 options to certain officers, directors and employees of Brownstone. The options are exercisable at $0.52 and are for a term of five years, expiring August 12, 2014.

Brownstone also announces that following the completion of the first tranche of its brokered private placement in May 2009, pursuant to which the company raised aggregate gross proceeds of $6,615,000, it has decided to not proceed with a second tranche financing. Brownstone is sufficiently capitalized to meet its ongoing working capital requirements for the foreseeable future and further equity capital raising activity is not currently desirable.

About Brownstone - Brownstone Ventures Inc. is a Canadian-based, energy focused investment company with equity interests and direct interests in oil and gas exploration projects, including working interests in almost 300,000 acres in the Piceance/Uinta Basins of Colorado and Utah; 295km2 in the Assam/Arakan Basin, Northeast India; 253,000 acres in Rio Negro, Argentina; interests in several projects in Brazil and a 50% interest in approximately 160,000 hectares in the Quebec Lowlands. For additional information, please see Brownstone's website: [ www.brownstoneventures.com ].

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.